Trade WAX - WAX Markets, Exchanges, Broker
WAX is a new crypto currency, which should make it easier for gamers to trade game goods. Until now, virtual objects have been traded on many different platforms, resulting in high competition. WAX wants to create a market where a uniform payment system and the security of the blockchain is available.
Share price development 2017 - 2018
On 21.12.2017 WAX entered the market for the first time at a price of € 3.7, but this quickly fell to just under a dollar, where it then fluctuated until early January 2018. There, the crypto currency experienced a brief peak, whereupon the exchange rate settled at around one euro again.
At present, the selling price for a WAX token is €0.33. The price for a WAX token is €0.33. There are currently almost 500 million tokens in circulation, with a maximum volume of 1.85 billion. The daily trading volume amounts to € 16,265,170. WAX has already generated a market capital of almost 165 million euros, which puts it at rank 99 of all crypto currencies.
The vision of the crypto currency
As mentioned earlier, WAX wants to create a fully decentralized market for online goods where every user has the ability to buy or sell online goods. This would eliminate the competition from the many small vendors and create a unified platform. One existing problem is the fraud with game items.
To this end, the WAX token is to serve as a means of payment, which brings in the security of the block chain. With WAX, there will be no need to invest in infrastructure or security in the future, so the purchase of an in-game item can also be cheaper. WAX Coin was founded by the online trading centre OPSkins, on which in-game goods can already be traded.
Further partners are SALT, kyber.network, Robot Cache, Bancor and Jaxx. These partners are already represented on the crypto currency market and thus support the establishment of WAX Coin.
WAX Protocol
The WAX platform also offers a few additional features that guarantee the security of a purchase. One of these features are so-called Guilds, which have to check and confirm every transaction.
The participants of a Guild are selected persons of the WAX platform. Thus, a control over third parties can be carried out. There are different Guilds for different games or servers. Currently there are 64, but this number can be extended at the user's request. A further security level is provided by so-called transfer agents, which assist both the buyer and the seller in a transaction.
They create a sales contract, which contains the confirmation that both the money and the goods have been successfully transferred. The transfer agents are also users of the platform.
Future prospects for WAX Coin
In the long run, the crypto currency has the potential to assert itself on the market, as it can eliminate some of the current problems of the games market. One striking feature of the crypto currency, however, is that only about 35% of all pre-mined tokens are released for sale.
The remaining 65% was distributed to Markt Development, Contributers and Advisors and the WAX team. It seems those participants want to benefit from a possible rise in the currency. Nevertheless, WAX Coin could establish itself well and possibly even grow beyond the current limits of the crypto currency.